Global Lactose market segments 2024, Forecast To 2033
2 Feb, 2024
The lactose market has exhibited steady growth, increasing from $1.31 billion in 2023 to $1.36 billion in 2024, with a CAGR of 3.8%. This growth in the historic period is driven by increased worldwide consumption of dairy products, growth in the global food and beverage industry, demand for infant formula and nutritional supplements, expansion of the pharmaceutical and pharmaceutical excipients industry, and a rise in health and nutritional awareness. The lactose market is anticipated to witness steady growth, reaching $1.61 billion in 2028, with a CAGR of 4.3%. Factors contributing to this growth include the increasing use of lactose in pet food formulations, rising prevalence of lactose-free and dairy-free products, demand for low-FODMAP and gut-friendly ingredients, emergence of niche applications in cosmetics and personal care, and the expansion of the lactose market in emerging economies. Major trends in the forecast period include the use of lactose in cosmetics and personal care products, high purity and pharmaceutical-grade lactose, lactose in animal feed formulations, instantized lactose for quick dissolution, and customized lactose blends.
Global Lactose Market Key Driver
The lactose market is poised for growth driven by the increasing dairy production. The European Union recorded a year-on-year growth of 0.7 million tonnes in raw milk production, reaching 161.0 million tonnes in 2021, as reported by Eurostat in November 2022. The higher dairy production leads to increased availability of raw milk and, consequently, a greater supply of lactose as a byproduct. This abundance of lactose and its affordability stimulate its utilization across various industries, fostering the growth of the lactose market, with projected market sizes in 2023, 2024, and 2028.
Get A Free Sample Of The Global Lactose Market ReportGlobal Lactose Market Segments
The global lactose market covered in this report is segmented –
1) By Form: Powder, Granule
2) By Purity: Crude Lactose, Edible Lactose, Refined-Edible Grade Lactose
3) By Color: Yellow, Pale-Yellow To White, White
4) By End-Use: Food And Beverages, Confectionery, Animal Feed, Pharmaceutical, Cosmetics, Other End-Users
By Geography: The regions covered in the Lactose market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
Major Lactose Industry Players
Kerry Group, Saputo Inc., Lactalis Ingredients, Leprino Foods Company, Glanbia PLC., Lactose India Ltd., Davisco Foods International Inc., DMK Deutsches Milchkontor GmbH, Molkerei MEGGLE Wasserburg GmbH & Co. KG, Royal FrieslandCampina NV, FrieslandCampina, Armor Proteines, Bayerische Milchindustrie eG, Milei GmbH, Fonterra Co-operative Group, Agropur Cooperative, Nestle SA, Danone SA, Dairy Farmers of America Inc., Arla Foods amba, Gujarat Co-operative Milk Marketing Federation Ltd., Inner Mongolia Yili Industrial Group Co Ltd., Ba'emek Advanced Technologies Ltd., Hilmar Cheese Company, Avantor Inc., Danone North America Inc., Kraft Heinz Company, Glanbia Plc, Foremost Farms USA, Erie Foods International Inc.
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Lactose Market Overview
Lactose is a sugar present in milk and is found in all kinds of dairy products made from milk such as ice cream and yogurt. It consists of disaccharides of glucose and galactose units and is found in milk amounts ranging from 2–8%. Lactose is used in a large number of foodstuffs and in the pharmaceutical industry.
Lactose Global Market Report 2023 provides data on the global lactose market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The lactose market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.